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    1506 Bronxdale Ave Bronx, NY 10462
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    Property profile & analytics

    1506 Bronxdale Ave Bronx, NY 10462

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    • Drive through restaurants
    • 1,546 SF
    • 0.06 lot acres
    For Sale
    $1,390,000
    View Listing →
    Bronx Retail Property: Prime Location For Sale
    $1,390,000
    1,546 SF

    Bronx Retail Property: Prime Location

    Asian Restaurant w/ Metro North Proximity

    1506 Bronxdale Ave, Bronx, NY 10462
    View Listing
    Property ID
    US63-0130042
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lin’s Asian Cuisine / Restaurant

    Property Details for 1506 Bronxdale Ave

    Year built
    1932
    Lot size
    0.06 lot acres
    Property size
    1,546 SF
    Zone code
    R4
    Property type
    Drive through restaurants
    APN
    04063-0020
    APU
    40630020

    Description

    This exceptional commercial property presents a rare investment opportunity in the thriving Bronx, situated at the crossroads of Parkchester and Morris Park. Priced at $1,390,000, this 1,546 square foot retail space sits on a 0.06-acre lot and is currently operating as a successful Asian restaurant, included in the sale. The property's strategic location offers unparalleled access to the highly anticipated Metro North Parkchester station, slated to open in 2026, a mere 5-minute walk away. This convenient proximity promises increased foot traffic and enhanced visibility for future businesses. The building is zoned R6-1 & C2-4, providing flexibility for a variety of commercial uses. The main floor features a well-equipped kitchen and spacious dining area, perfectly suited for restaurant operations or adaptable to other retail ventures. A full basement provides ample storage and office space, adding to the property's functionality and value. This turnkey operation offers immediate income potential and significant long-term growth prospects, making it an ideal investment for savvy entrepreneurs and seasoned investors alike. The property's prime location, combined with the upcoming Metro North station and versatile zoning, ensures a strong return on investment. Don't miss this chance to own a piece of the Bronx's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8538
    Latitude
    40.8427
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $12,040
    $62,550
    $51,120
    $113,670
    -
    $139,000
    $135,000
    $274,000

    Comparable in this City

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      $555,000
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      1980-1982 Westchester Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,905 SF
      1980-1982 Westchester Ave, Bronx, NY 10462
      View Details
    • Value Estimation
      $4,155,000
      2,759 SF

      2138 Westchester Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,759 SF
      2138 Westchester Ave, Bronx, NY 10462
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    • Value Estimation by Request

      2132 Tremont Ave

      Restaurants
      2132 Tremont Ave, Bronx, NY 10462
      View Details
    • Value Estimation by Request

      2132 Tremont Ave

      Restaurants
      2132 Tremont Ave, Bronx, NY 10462
      View Details
    • Value Estimation by Request
      21,000 SF

      Parkchester Condominiums The

      Lifestyle centers • 21,000 SF
      0 Parkchester Condominiums The, The Bronx, NY 10462
      View Details
    • Value Estimation by Request
      0.19 Acres

      2100 Westchester Ave, Unit 2110

      PARKING LOT • 0.19 Acres
      2100 Westchester Ave, Bronx, NY 10462-4704
      View Details

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    • $1,390,000
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      Bronx Retail Property: Prime Location

      Asian Restaurant w/ Metro North Proximity
      1506 Bronxdale Ave, Bronx, NY 10462
      View Details

    Similar Nearby for Lease

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      Retail and Office Spaces Available

      Retail and office spaces for lease in Parkchester, Bronx.
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      Retail Space in The Bronx

      Retail space available for lease in The Bronx, NY.
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      Retail Space in New Development

      Retail space available for rent in a new development.
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      Morris Park Retail Space Available

      Retail space for rent in Morris Park, Bronx.
      961 Morris Park Ave, Bronx, NY 10462
      View Details
    View Listing
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    Bronx, NY 10462
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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